Coast Home Loans · Weekly Rate Report

Rates are down half a point in a month

On a $750,000 home, that is about $200 a month back in your buyer's pocket.

Wholesale rates, top-tier borrower

Six-month trend

Wholesale rate, top-tier borrower National average (Freddie Mac)

The national average is what a typical borrower was quoted across all lenders. The orange line is the wholesale 30-year conventional rate for a top-tier borrower (780 credit score, 20% down, 1 point), priced across the lenders a broker can use. Both peaked in October and have fallen since.

For your clients

$789ksame payment

Buyers who paused

The payment that bought $750,000 a month ago now buys about $789,000. They can check their own numbers in Qualifying Income.

42 dayson market, Riverside Co.

Room to negotiate

That compares with 29 days statewide, and price cuts are common across Southern California. Ask for a seller credit toward a rate buydown before a price cut. The Concession Calculator shows which saves the buyer more.

6.250%FHA · VA 6.375%

FHA and VA

The lowest rates on the sheet, both down 0.375 on the month.

7.000%investment loans

Investors

Down about half a point on the month. DSCR and second-home rates have not moved.

Free tools for you and your clients

Concession Calculator →Price cut or seller credit: see which helps the buyer more. Qualifying Income →The price an income supports, or the income a price needs. Mortgage Calculator →Payment, fees and cash to close for any loan type. Lease Renewals →Track renters by lease end date and show them rent vs. own.

Have renters whose lease ends in the next few months? Send me the names and I will reach out for you.

Behind the numbers

10%of first-time buyers used an inheritance for the down payment. That is a record.

25%had a gift or loan from family.

Ask first-timers early where the down payment is coming from. Family money needs paperwork, and it is easier at the start than in escrow.

Democrats win House and Senate
Pressure for an Iran deal
Oil under $100
Cooler inflation
Room for lower rates

That is the hopeful chain markets are trading on. It holds only if a deal is signed and no new conflict starts.

California propositions and your business

Prop 37 · looks set to pass

3% down on a newly built home

The state would lend up to 17% of the price as a fixed-rate second loan. Here is the down payment on a $750,000 new build.

20% down today

$150,000

With Prop 37

$22,500

CA resident 1+ yearLives in the homeIncome up to 2× area medianNew construction onlyPrice cap about $1M to $1.5M by county

Clients with good income and thin savings become new-construction buyers, so builder relationships matter more.
Entry-level resale listings may face more competition from new builds.
The second loan has its own payment, so buyers need to qualify on both.

Prop 1, also likely to pass: an $11.25 billion housing bond. $1.25 billion would go to veteran housing and the rest to rental, homeownership and other affordable housing programs. Expect a slower effect, over several years.

California insurance is easing

The good newsNine insurers, including six of the ten largest, have committed to write more California home policies. It is the first real growth in three years.

The catchFire zones are still tight. The FAIR Plan holds about 697,000 policies, and its rates rose an average of 29% in October.

Your moveThe premium counts toward the payment a buyer qualifies on. Get a quote in the first days of escrow so it does not sink the loan late.

One line to use this week

"Rates are down half a point since October. On a $750,000 home that is about $200 a month. Want me to have Connor rerun your numbers?"

Connor Sweeney Coast Home Loans · NMLS 2875791 (916) 846-5567 Open my Mortgage Toolkit